SECTION A: FINANCIAL ACCOUNTING - 50 MARKS 2 MDP135W JANUARY FEBRUARY 2020 MAINE HEALTH AND SAFE Question 1 person appointed in oms subject to the cor son contemplated ir eniorermust in ays of the appoint ormation to the ze of the chiefe South Africa (Pty) Ltd has been in the business of delivenng small packages for local companies within the city of Tshwane, since the year 2000 The following information concerning financial (15 marks] activities during 2017 is available at December 31, 2017 e of such pers of persons w fexecutive off s. 2 of Act No. Act No. R380,000 Salary and wage expense Rent expense appoint m zust r more m to be res etion of th sure tha Land Delivery revenue Dividends declared and paid Buildings Accounts payable Capital stock Water, gas, and electricity Cash R82,000 43,000 60,000 30,000 85,000 140,000 30,000 105,000 uted by: ers wit Accounts payable Retained earnings, January 1, 2017 Notes payable Income tax expense 28,000 56,000 42,000 34,000 18,000 eps nan 1 2 Prepare an income statement for the year ended December 31, 2017 If you were a bank loan officer and South Africa (Pty) Ltd wanted to borrow R100,000 from your bank, would you lend the money? Explain Calculate retained earnings at December 31, 2017 3